Signaling system and apparatus therefor



y 4, 1940. s. MORTON 2,200.802

SIGNALING SYSTEM AND APPARATUS THEREFOR Original Filed July 15, 1929 10 Sheets-Sheet 1 hSmLtCgr C8 ver- ZJ 6 25 26 A TTORI'VEYJ May 14, 1940.

S. MORTON SIGNALING SYSTEM .fxND APPARATUS THEREFOR Original Filed July 15, 1929 10' Sheets-Sheet 3 Z5 72 7! 71 27 4 j 4 I l INVENTOR. A761 7111; Mar/012 ATTORNEYJ May 14, 1940.; 0 s. MORTON 2,200,802

smmune sy'smm AND APPARATUS mnxsroa Original FiledJuly 15, 1929 10 Sheets-Sheet 4 265 uymvron.

' 0 I lie/ My Ila/i021 Maw. ATTORNEY Original Filed July 15, 1929 10 Sheets- Sheet 5 May 14, 1940,

s. MORTON 2.200.802

SIGNALING SYSTEM AND APPARATUS THEREFOR Original Filed July 15, 19 29 vlO'SheetS-Sheet 6 $62 I INVENTOR.

lie/{r729 BY v ATTORNEYJ. I

y 4, 1940. s. MORTON 2.200.802

' SIGNALING SYSTEM AND APPARATUS THEREFOR Original Filed. July15, 1929 10 Sheets-Sheet 7 4 INVENTOR.

zj/ I Jig/{i127 Mafia/2 ATTORNEY v y s. ok'roN I I 2,200,802

smmmms SYSTEM AND APPARATUS THEREFQR Original Filed July 15, 1929 '19 Sheets-Sheet e ATTORNEY 1 1940. s. MORTON I 2.200.802

v v I SIGNALING SYSTEM AND APPARATUS THEREFOR Original Filed July 15, 1929 10 Sheets-Sheet 9 @IEJ.

INVENTOR. 46o fie/Z2224 Ala/fox? A TTORNE Y M y 14, 1 0- I s. MORTON 2,200,802

SIGNALING SYSTEM AND APPARATUS THEREFOR 7 Original Filed July 15, 1929 10 Sheets-Sheet 1O I I a I J22 v m' v: 42o I ire 5 we 4 I 9 M 501" 4 V we" I n A5726" 209 1 $11 I 492.:- Q r42 a {1226' U 4:".2:

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mmm /mw BY a d ATTORNEY! Patented May 14; 1940 PATENT OFFICE SIGNALING SYSTEM AND'AFPARATUS rmnmroa Sterling Morton, Chicago, Ill.,.. assignor to Teletype Corporation, Chicago, Ill'., a corporation of Delaware Application July 15, 1929,- Serial No. 378,463 Renewed October 21, 1939 36 Claims. (01. 177 353) The present invention relates to signaling systems, and more particularly to recording and like systems, and is especially adapted for market quotation distribution and like uses.

In modern selective market quotation systems, remote selection of an item to be quoted is followed by selection of the price quotation of the selected item, and the range of the quotation. The properfunctioning of the receiving and registering on recording apparatus to perform the successive operations requires predetermined, time intervals for each successive operation. As

quotation distribution signaling traflicis very heavy and signaling time available therefore is limited, a primary object of my invention is to provide novel overlap mechanisms and arrangements in such signaling systems to speed traffic and to reduce to a minimum the signal line time required for each cycle of operations.

The number of commodity I items that are quoted is so great, and the use of any one indicator is so infrequently made that it has been regarded as impractical to employ the highly developed mechanical selector mechanisms commonly used in theprinting telegraph art for the operation of individual quotation registers. Various types of electromagnetically or current operated registers have been heretofore proposed for such registers for example, as is illustrated in U. S.Patent 1,128,008 to Kramer. Such cur.- rent operated devices are more or less unreliable in operation and subject to heavy maintenance costs. A further object of my invention is therefore to provide simplified mechanical selector mechanisms for quotation registers and recorders operable with the reliability of operation and comparatively low cost, of maintenance of mechanical telegraph selectors.

A further object of the present invention is the provision of a receiving or recording system and apparatus of the character mentioned in which a single motor and set of selectors is used as com-.

mon equipment for a plurality of sets of indicators or recorders arranged in groups.

A still further object of my invention is to provide simplified apparatus of the character mentionedresponsive to a minimum amount of line energy.

Other objects of my invention will appear from the following disclosure of preferred embodiments thereof, and from the terms of the appended claims. As shown in the drawings:

Figure l is a diagrammatic view of the complete system showing the general outline of the receiving apparatus.

Figure 2 is a broken elevation of the assembly of a stock quotation board.

Figure 3 is a vertical sectional view sembly shown in Figure 2.

of the as- I Figure 4 is a diagram of the system used in obtaining opposite electrical potentials.

Figure 5 is a Iragmental plan view of the preferred form of perforated tape employed in connection with my system.

Figure 6 is a diagram of representative parts and connections of the transmitter-embodied in my invention. I

Figure 7 is a similar view showing the details of the receiving distributor employed in connection with Figure 6.

Figure 8 'is a. diagrammatic view showing the details of the circuits and apparatus in which the received codes are stored in a preferred embodiment of my invention.

Figure 9 is a general diagrammatic view of a display device upon which the translated intelligence is to be exhibited.

Figure 10 is a top plan view of the stock selector units. v

Figure 11 is a cross section of the stock selector units indicated in Figure 10.

Figure 12 is a detail sectional view showing of the operating cams of the selector units.

Figure 13 is a side elevation partially in section of the stock selector units. I

Figure 14 is a detail section taken on line "-44 of Figure 12 showing the start mechanism of the stock selector units. t

Figure 15 is a top plan view partly in section I showing some of the parts of the stock indicator units and. the price selector units.

Figure 16 is a plan view partly in single indicator.

Figure 17 is a plan view of the spring for rotating the drum.

Figure 17a is a fragmental perspective view showing the latching mechanism in the indicator drum.

one

section of a Figure 18 is a vertical section of the price selecting device.

Figure 19 is a cross section of an indicator drum.

Figure 20 is a front elevational view partially in section of the price'selector unit and indicators, and I Figure 21 is a side elevation of the price selector unit and indicator unit.

As shown in Figure l, a transmitter I, the details of which will be described hereinafter,

transmits code combinations of impulses in accordance with the stock item to be quoted andthe quotation thereof over a signaling line I56 extending to a remote receiving apparatus 3.

These codes are sent in groups, each group constituting a cycle comprising first a plurality of codes for selecting the items to be quoted, followed by other codes for indicating the quotations of the selected item and its range; that is, whether it is the high,, low, opening, closing or currentquotation. As will be described hereinafter, the receiving apparatus 3 comprises a distributor operating in response to the code combinations of impulses received over the signaling line I56 to distribute the first group of code combinations of impulses or item selecting codes for retransmission over conductors in a cable 4 extending to selector magnets 5.

Magnets 5 operate their individual code bars I variablyin accordance with the received code combination of impulses. Positioned above and transversely of the bars I are selector bars 8 individual to each item to be quoted. Bars 1 are so constructed that upon the operation of a pre determined combination setting of the bars I in accordance with the operation of the magnets 5, one of the selector bars 8 is operated to close its individual contact 9 completing thereby a circuit to its individual selector magnet 285 of which each of these magnets is individual to an item to be quoted. As will appear more fully hereinafter, the item indicators are arranged in groups as diagrammatically illustrated in the present showing each comprising seven individual magnets 285. The purpose of this will be clear from the description to follow.

Each of the selector magnets 285 closes five individual contacts 288 to 292 which complete circuits through the conductors in cable l4 to an individual group of electromagnets 366 to 3l8. There are flve such electromagnets in each group, one for each range of a stock quotation unit l6 of the stock board 'I.

As shown in Figures 2 and 3, the stock board l1, although it may be of any size, in the-preferred embodiment of my invention is shown as composed of vertically disposed sections, each of which has space for seven stock units IS in a vertical column. Each stock unit I 6 comprises five horizontal rows each horizontal row comprising four indicators, one indicator for indicating the hundreds value of the quotation, one for tens, one for units and the one at the extreme right for fractions. The top horizontal row may for example, represent the closing quotation of the previous day, the second horizontal row may represent the opening quotation of the day, the third the high, the fourth row the low and the fifth row the current quotation, although it will be understood that the above is merelyv described for purposes of illustration and any other arrangement of the ranges desired may be employed. All of, the indicators for the same digit of the various ranges for the stock units ina vertical column are mountedv on a single shaft. Thus, for example, the indicator for the tens unit for high, low, etc., of the seven items in one columnare all connected to one shaft. The lower end of this shaft is geared to a unit at the base of each column comprising a permutation selecting device variably operated in accordance with received codes for controlling the vertical shaft.

Normally however, all of theindicators are latched against operation. Each electromagnet 366 to 3! when energized functions to release its ,indicators for operation by the vertical shafts 466 to 469, all of the remaining indicators on the same shafts for other stock items remaining latched against operation.

The extent of rotation of the shafts 466 to 469 which of course determines the indication set up on the indicators, is determined by the group of magnets 25 to 28, Figure 1. It will be noted that there are four such groups of magnets, one such group for each of the four vertical shafts described briefly above. The magnets 25 to 28 in a group control a selector, which as will be described in more detail hereinafter selectively determines the angular rotation of its individual shaft. Magnets 25 to 28 are connected over conductors in a cable 3| to armature contacts 32 of relays 33 and the circuit being completed over the armatures and conductors in the cable 34 to locking relays 314. These relays are connectconnectors and conductors in the cable 39 to the armatures 312 of relays 3" which are selectively operated by impulses transmitted over conductors in the cable 43 by the receiving distributor 3 in accordance with the item quotation code combinations of impulses received following the first or item selecting codes received. The relay 343 controlling connectors 34! is controlled by a conductor in cable 43 and repeats the signal which operates relays 4| to also operate relays 36.

In addition to the selective operation of the selected indicators, it is also necessary to select for operation the particular indicators corresponding to the quotation which is being indi cated. To this end the last code combinations of impulses received by the receiver-3 are received on range relays 356 to 360 which repeat the signals over conductors in the cable 39 and contacts 3 and 342 to operate relays 336 to 340. Relays 336 to 348 repeat these impulses over a cable 55 and through one of the circuits prepared by the relays 285 over cable to one of the sets of the indicator magnets 366 to H8. Operating one of these magnets determines the range of the quotation of the selected item.

Following the operation of the selector magnets 25 to 28, one of the motor magnets 56 is selectively operated to close the circuit to its corresponding motor 6|, each of which operates four vertical shafts 466 to 469, see Fig. 20. As briefly stated above, although the vertical shafts are thus rotated only released ones of the indicators rotate while the remainder remain latched against rotation, the energization of any magnets 306 to 3|6 of the sets of indicators l6 in the manner generally described above'releasing particular indicators individual thereto for rotation by the shaft to an angle determined by the combination of the selector magnets 25 to 28 which have been energized.

Having described the operation and system briefly in connection witlr-Fig. l- .attention will now be had to Figs. 6 to 9 inclusive which taken together illustrate completely the circuit and arrangement of the quotation board and the re ceiving station electrical equipment. A continuous tape H, a fragment of which is illustrated in Fig. 5, has a plurality of perforations H which comprise transverse rows of five perforation positions indicated 12 to 16. As shown, a cycle or group comprises eight successive codes, one code in e'achcycle having a sixth perforation 11 which as will be described in the following, synchronizes the group of codes so that the trans mitterand receiver not only are in synchronism but also. in proper phase with respect to relative codes in a cycle. with a series of center or feed perforations 18 which cooperate with the teeth of a feed wheel for advancing the tape in a step by step fashion as will be described hereinafter. The codes trans-' mitted by my system comprise preferably "impulses of positive and negative polarity. The manner of supplying alternate polarities is shown in Figure 4 in which a battery 8| is tapped at the center 82 and grounded.

The tape 1|, Figure 6, is conducted over guiding rollers 88 and "to a feed wheel 86 provided with the teeth 81 engaging the central perforations 18. The feed.wheel 86 is mounted on a shaft 88 which also carries a ratchet wheel 81. A pawl 83 engaging the teeth of the ratchet wheel 8| is periodically operated in a step by step manner.

In operative relation with each of the perforat ing positions on the tape 1] is a feeler lever I8I mounted on a pin I82 and provided with a feeler pin I83 which is arranged to move into the perforations in the tape. The lever I8I is providedwith an extension I82 and an insulated contacting member I83, which operates between the negative and positive, sides of battery connected to the upper and lower contacts respectively. The lever I8I comprises an extension I88 to which is secured one end of a spring I85, the opposite end of which is secured to the frame in any well known manner, by action of which the feeler I8I normally tends to rock in a counterclockwise direction about the pin I82 urging its feeler I83 into the associated perforation in the tape 1I. The lever I8I, however, is normally held from this movement by one end of a lever member I86 pivoted at I86 and urged against the extension I88 by a spring I81 whose ends are secured to the lever I86 and to the frame work. The other end of lever I86 cooperates with an extension I88 of a lever member I88 pivoted at H8 and provided at one end with a cam follower II I and at the other end with a lug II2 to which I88 in its counterclockwise position, and so perniits universal lever I86 under the action of spring I81 to hold all levers I8| out of engagement with "the tape 1|.

- The follower III is in operative relation with a cam 2' carried on and fixedly rotating with the shaft 3'. Carried by and rotatable with shaft 3' is a disk II5 havinga notch II6 which cooperates with the armature I I1 of magnet II8. When the magnet H8 is deenergized, the armature I I1 which is spring operated by a spring not shown moves to its outward position at which point the tooth extension of the armature engages the notch I I8 and the shaft I I3 is latched against rotation. Upon energization of the magnet II8, the armature H1 is withdrawn from the notch I I6 and the shaft I I3 is released for rotation.

The 'circuit'of the magnet II8 iscontrolled over The tape 1| is also provided roller III and the other extending over the conductor I22to the armature I23 of relay I28. The energizing circuit for the relay I 28 is controlled over the lever contactor I25 which is operated to engage its contact by the apex portionof the cam H2 and continues over the conductor I26 to the contact controlled by the extension I83 of the sixth lever I8I. As shown, normally with no sixth perforation in the tape 1| and the' lever IIII in the position shown, negative battery is connected to the right winding of the relay I28 and accordingly this relay cannot'be energized. When, however, the lever I8I is operated by a perforation to close its lower contact, current from the positive side of battery flows through the relay I28 and this relay will be energized when contact I25 closes. The relay I28 comprises in addition to its right hand winding, .a second winding which completes a locking circuit for itself over the armature I28 to the contactor I29 controlled by the cam 2'. In addition to the armatures already described, relay I28 also comprises armatures I3I and I32 which control the transmission of positive and negative, impulses over the signaling line through the distributor 133 as will be described hereinafter. a

136 to I88 connected over conductors I to I85 v to the five conta'ctors I88 to I58 which are con-- trolled by levers similar to the feeler'lever I8I.

for operation between their upper and lower contacts.

Carried on the shaft 3' and rotating with respect to the distributor I33 is a brush'ISI. Brush I5I is provided withwipers I52 and I53 bridging thesegments I38 to I88 with the solid ring I55. The solid ring I55 is connected over the conductor I56 to-aremote receiving station about to be described. A motor (not shown) rotates the shaft 3' at a pretermined speed.

Having described the transmitter in general, the operation thereof will now be given. As stated when in operation a motor (not shown) tends to ,rotate the shaft '3' with its cam 2', disk 5 and distributor I33. The shaft, which is clutch connected (not shown) to the driving motor is, however, held from rotation by armature II1 when the latter engages the notch II6 of the disk I I5. The tape 1| which has been perforated by a perforator of any well known construction in accordance with code combinations of impulses having a sixth perforation-is nowfed into the position shown by the feed wheel 86.

At the starting position the cam H2 is in the position shown and in engagement with the follower I I Ii of the lever I88 holding the latter in its extreme outer position against the action of spring H3. The lever I86 under action of its spring I81 accordingly holds the feeler levers I8| (of which only one is shown for purposes .of

illustration) in their positions out of engagement with the tape. g

In order to start operations, the operator will start the motor and close the switch I28. The

start magnet H8 is. now energized in multiple either through the switch I28 and lever I2I to ground or over conductor I22 to the back contact and armature I23 of the relay I28. The stop magnet II8 upon energization operates armature II1 against the action of its spring from engagement with the notch H6 and the shaft 3' is released for rotation as shown by the arrow; At this instant the brush I5I is on the segment I38 I and the stop impulse transmitted is of positive polarity over the armature I3I in engagement with its back contact, segment I34, brush I5I and ring I55 and over conductor I56 to the remote station.

As the distributor rotates to the succeeding position engaging the start segment I35, current of negative polarity will beimpressed over the back contact and armature I32, segment I35, the brush I5'I, ring I55 to conductor I56. By this time,- cam I I2 has moved beyond the extension I I I and the lever I09 by action of spring H3 is rocked in a clockwise direction about its pivot H0 in turn rocking the lever I06 clockwise about its pivot I06. As the lever I06 is rocked clockwise, the feeler levers IOI are allowed to rock by actions of spring I05 about their shaft I02 in a counterclockwise direction. The feeler levers IOI which are now in operative relation with perforations in the tape, will be permitted to move into these perforations'and will rock their contactors I03 to engage their lower contacts. Those, however, which are not in operative relation with perforations will remain in the position shown inasmuch as they are stopped by the tape and their contactors I03-will continue to engage their upper contacts.

In this manner all of the levers IOI will be positioned in accordance with the perforations in the tape and the contactors' I46 to I 50 will be positioned to engage either their upper or lower contacts.

As the brush I5I now successively engages the positive polarity will again be transmitted over the signaling line I56. As will appear hereinafter, this is the stop signal and functions to bring the receiving distributor to a stop. Until.

the start impulse is transmitted, the receiving distributor cannot be again started. In this" manner the transmitting and receiving 'distributors are maintained in synchronism.

At this instant, also the cam H2 again engages the extension III which operates the lever I00 t0 again move all of the feeler levers I0l in a clockwise direction about their pivots I02 and out of the perforations in the tape II. At this instant the tape is also stepped to the succeeding code position by a single step rotation of the feed wheel 35 v and is well understood in the art.

The cycle of operation described above will now again be repeated as the distributor makes a second revolution. In this manner eight successive code combinations of impulses will be .transmitted over the line I56. As has already been described in the present illustration of the invention, the first three of these codes will be item selecting code combinations of impulses and comprise five impulses each. The next four codes will comprise five impulses each and will select the numbers making up the quotation of the item and the last code will comprise five impulses and will select which of the range of the item is to be quoted; that is, whether it is closing, opening, high, low or current.

During 'the transmission of the first seven code combinations of impulses, the sixth feeler lever IOI remains in the position shown inasmuch as there are no sixth perforations as shown on the tape II, Figure 5. Accordingly negative battery is continually connected to the relay I24 over conductor I20 and this relay remains de'energized even during the period while the cam II2 operates the lever I25 into engagement. with its transmission of this code therefore; when cam I I2 engages the lever I25, an energizing circuit is completed for the relay I24 from the positive;

side of battery over contactor I03, conductor I26, right hand winding of relay I24 and lever I25 to the negative side of battery. Relay I 24 upon ,energization completes a locking circuit for itself from positive battery to the left hand winding, armature I28 and its front contact and contactor I29 to the negative side of battery. Armature I3l now disengages the positive side of battery at its back contact and engages the negative side of battery at its frontcontact, armature I32 disengages the negative side of battery at its back contact and engages the positive side of battery at its front contact and armature I23 opens one of the multiple circuits of start magnet II8.

If there is suflicient slack in the tape II so that the lever I2I continues to engage its contact, the movement of armature I 23 from its back contact has no effect at this time. At the completion, however, of the transmission of this last code and upon the transmission of the first code of the new cycle instead of the transmission of an impulse of positive polarity over the line I56 for the stop impulse and the transmission of a negative impulse for the start impulse, the stop impulse will be an impulse of negative polarity, from armature I3I now engaging its front contact and the start impulse will be an impulse of positive polarity from the armature I 32 engaging its front contact.

In this manner, the first code combination of a new cycle of eight codes is distinguished from all of the other code combinations by the reversing characteristic oi' the start and stop impulses. As will be described in the following this distinction at the receiving station maintains the transmitter and receiver not only in synchronism but in proper phase relation with respect to the arrangement of codes in a cycle.

If at any time during the transmission, the tape II becomes taut due to the fact that the codesthave been transmitted faster than perforations are made onthe tape, the lever PM will open its contact opening one of the parallel circuits for the stop magnet II8. This magnet, however, will continue to remain energized over the armature I 23 until the transmission of the eighth or last code of a cycle, at which time, as

described above the relay I24 is energized openv ing the remaining circuit for the stop magnet H8 at armature I23. Magnet II8 now is deenergized and the armature I I1 drops to its back position engaging the notch II6 of the disk II5. Transmission of the codes is accordingly stopped of perforations for controlling the transmission of the codes over the distributor I33. The start and stop impulses during the transmission of all but the first of these codes comprises avpositive and negative impulse respectively. The start and stop impulse for the first code combination of any groupor cycle comprises negative and positive impulse respectively. The distributor, while of the start stop type for controlling the transmission of start and stop impulses for each-rotation thereof, can be brought to a stop at the transmitting end only at the completion of a cycle of codes and similarly the receiver distributor is also controlled to a stop position as will now be described.

The conductor I88 extends to a remote receiving relay "I located at a receiving station, as indicated in Figure 7. The receiving relay, which is of a polar type of any well known construction,

comprises an armature I12 operating between positive and negative polarity contacts and con-' 'nected to a conductor I13 wl' ich extends to a is energized only at the start of each cycle and accordingly negative polarity from the armature I11 is impressed upon the conductor I18 at that time. The stop magnet I14 can therefore only be energized by a positive start impulse operating relay "I to move armature I12 to its left hand contact for the first code combination of a cycle of impulses. During the transmission of the remaining codes in the cycle, the relay I18 is deenergized and accordingly impresses positive polarlty from armature I11 on the conduitor' I18 and the magnet I14 can thereafter be energized only when the received start impulse is of negative polarity. -It will also be noted that the circuit for the magnet I14 is controlled by the lever controlled co'ntactor I18 which opens its contact to 244 control the cycle of operations following the receipt of the code cycle. The brush carrier is geared to the same drive motor (not shown) which rotates distributor I88 and is rotated at a fraction of the speed .of the distributor brush, I92 on the distributor I83 so that the brushes 2I8 to 228 will wipe over .the first or topmostthe relay I24 will be deenergized and a starting circuit will be closed through start magnet H8 and back contact of armature I23 of relay I24. This-will continue until the tape is stepped successively to bring a channel finding perforation to register with the channel feeler IIiI whereupon the feele'r IIII will rise and connect its contactto positive. This will prepare a circuit over conductor I26 and when cam H2 closes contact I25, a circuit will be completed through relay I24 and contact I25 to negative. Relay I24 will operate and form a holding circuit through contact I28, at thesanietime breaking the circuit of start magnet II8.

The sending system will stop in position to send next, the first group-signal of the ensuing stock quotation unit of intelligence. The relay I24 when operated connects negative potential to the stop segment I34 of the distributor I33 which operates line relay I1I at the receiving station and causes that relay to connect negative potential to a its armature. Should the pilot distributor at the receiver at this time have its brushes in normal position as shown, the channel finding relay I18 will be energized by a circuit through the relay winding and the'segment 238. This will connect negative to both terminals of the start magnet immediately after the transmission of the first start impulse as will now be described.

The conductor I18 is controlled by a cam disk I8I carried on a shaft I82 which also carries a distributor I83. Distributor I88 comprises a solid ring I84 which is connected in multiple with the start magnet I14 by the conductor I13. After the transmission of the start impulse as described above, code combinations of impulses received by the line polar relay III are repeated over the armature I12, conductor I18 to the solid ring I84.

The distributor I88 also comprises'a stop segment I88, a start segment I88 and five code selecting segments .I81 to I8I which are bridged with the solid ring I84 by the brush I82. The segments I8 1 to III are connected over conductors I88 to I88 respectively to'the solid rings 28I to 288 respectively. The rings 28I to 288 are wiped over by brushes 288 to 2I8 connected over condoctors 2" to 2I8 respectively to the brushes 2I8 to 228. The brushes 2I8 to 228 wipe over 'rings22l to 228 respectively. The segments on rings! to 228 distribute the successive codes of a cycle received to their proper receivers. The brushes 288 to 2I8 and brushes 2I8 to 228 are nmunted on a rotating brush carrier (not shown) which also carrisb .28I to 281 of the segmentedrinls288to2 Aswillbedescribed in detail hereinaftenthe segmented rings 288 I14 and the start magnet will not be operated. However, should the brushes of the distributor be other than normal, the relay I18 will connect positive to start magnet I14 and the relay I" will connect negative current to start magnet I14 so that start magnet I14 willstart the master distributor I83 repeatedly until the brushes of the pilot distributor are in normal position. The distributor.|83 is geared to the pilot distributor in a ratio of eight to one so that distributor I83 makes a revolution for each group signal and the pilot' distribiitor makes a revolution for each complete stock quotation of eight group signals. Thus, by the automatic functioning of the device, as shown, both sendingand receiving stations have attained a readiness to send and receive the first group signal of a quotation unit. The manual starting key I28 now is closed and normal transmission ensues.

From the above, it will now be clear in connection with Figure 1, that code combinations of impulses are generated at the transmitting station I, comprising codes for selecting an item to be quoted followed by codes which give the quotation of the item and a code indicating the range of the item quoted. These impulses are transmitted from the transmitter I over the line I58 through the receiving distributor 3. The'first or item selecting codes are then repeated by the distributor 3 over the cable 4 to operate relays 5 which in turn select one of the relays 288 for en-' 7 ergization. These relays upon energization prepare a circuit for one of the index magnets of a particular item so that when the code which is to follow 'is finally received, the indicator individual to the magnet is released for operation in accordance with' the code. The distributor 3 next distributes the codes received in accordance with the quotation of the item selected over the conductor through cable 43 to operate relays which in turn repeat the impulse through conductors in cable 39 and the conductors in the cable 31 to the relays 336 to 340. The, relays 336 to 340 upon energization then repeat these impulses again over the conductors in cable 34 to the selecting magnets 25 to 28. The selecting magnets 25 to 28 in turn variably condition a selector shaft for a predetermined angular rotation. Four such groups of impulses, each group comprising five impulses are received through only four impulses are effective. The first group for hundreds quotation, the next for tens, units and fractions as indicated by the four groups of magnets 25 to 28. The next group of impulses received are repeated by the distributor 3 through conductors in cable 43 to relays 356 to 360 which in turn repeat these impulses to conductors in cable 39 and'contactors 342 and conductors in cable 31 to the relays 314. Theseimpulses in the relays 314 are then repeated over conductors in the 'cable 55 and through the prepared circuit by the relay 285 to-energize one of the range magnets which, as stated above, releases this particutail hereinafter in connection with the specific circuit.

The first set of segments on rings 221 to 225 are connected to conductors 251 to 255. The next two sets of segments are connected to similar conductors 256 and 251. While the brushes 216 to 220 are wiping over the first segments of the five rings, the first code of five impulses is received. While the brushes 216 to 220 are moving over the second set of segments connected to conductors 256, the second code is received and while the brushes are wiping over the third set ofsegments connected to conductors 251, the third code is received. These three codes constitute the item selecting codes. The rings on the next four positions are provided with only four segments each on-rings 221 to 224, ring 225 having no segments on these positions. The first of these sets-of segments are connected to conductors 261 to 264,

@the next set of segments are connected over similar conductors 265, the next set to conductors 266 and the last set to conductors 261. While the brushes are wiping over these segments, the codes received comprise only four impulses each as described above for making the numeral and fraction selection of the quotation of the item being quoted. During the period while the brushes 216 to 220 are wiping over the last set of segments connected to conductors 211 to 215, the rangeof the quotation is received. t

The conductors 251 to 251 are connected to the selector magnets 5, Figure 8. Fifteen suchselector magnets are provided connrcted to the con-.

ductors 251 to 255 and conductors. 256 to 251. These magnets 5 are operated in accordance with .be described hereinafter.

the first three received combinations of impulses to in turn operate individual code bars 1.

Positioned above and transversely of the code bars are selector bars 8 each of which controls an individual circuit to a selector circuit magnet such as 265 each of which controls a of contactors 266 to 292. The'contactor 286 provides a locking circuit for the electromagnet 285 over Contact 281 extends positive battery from the conductor 294 over the conductor 295 to the relay 33 which upon energization closes the con-. tacts 32 for preparing circuits for the group of selector magnets 25 to 28 and the adjacent three groups of selector magnets for the column of seven indicators 305 asdescribed briefly in connection with Figure 1, the detail of which will As will be described in more detail hereinafter these electromagnets, operated in accordance with the received codes after a selection of the item to be quoted variably operate the indicators in the selected items.

The indicators in the set are at this time all normally latched against operation, but are se-' lectively released by the electromagnets 306 to 310, Figure-9, the magnets 306 to 310 being individual to each range of auset of indicators for one item. As will be described, after a selection of one of the indicators, one or more of the magnets such as 306 to 310 of a set of indicators is energized depending upon the range of the item to be quoted for releasing its individual indicators, The magnets 306 to 310 are connected over the conductors 316 to 320 to the contactors 208 to 292 respectively, which in turn extend the circuits therefor over the conductors 325 to 329 to the front contacts of armatures 331 to. 335 of the locking relays 336 to 340. The eriergizing circuits of relays 336' to 340 are completed over the extension of conductors 325 to 329 connected to the front contacts 341 of the armatures 342, controlled by a relay 343. The circuit for relay 343 extends over the conductor 344 to the segment 241. When the brush 234 is wiping over the segment 241 after the starting of the cycle as illustratedin the above, negative potential from the ring 244 to brushes 231 and 234 is impressed on the conductor 344 to. energize the relay 343 closing the armatures 342 over their front contacts 341 and extending the circuits from the armatures 351 to 355 of the relays 356 to 360 to relays 336 to 340. The circuits for relays 356 to 360 are in turn completed over conductors 211 to 215 to the last segments on the segmented rings 221 to 225.

As will be described, on receipt of the last code, which is referred to as the range code, an impulse is transmitted over one of the last segments of the segmented rings 221 to 225 and over one of the conductors 211 to 215 to energize one of the 9,900,802 ment 242. when the brush 235 is wiping over this segment negative polarity is impressed on the conductor 334 from the ring 244 to brushes 231 and 235. Negative polarity for the lockin relays 353 to 333 extends over conductors 33I and over one of the armatures 35I to 355 through the winding of the energized relay to positive battery. A further circuit is completed over armatures 342 and their contacts 3 for energizingone of the relays 333 to 343 which upon energization is locked over its front contact and armature, and the armature 335 of the relay 333.

of the sixteen conductors 2" to 231 as described above. Each of these relays controls its individual armature 312 over which a locking circuit for the associated relays is completed and over which negative potential from the armature 332 extends to its individual conductor 313 extend-- ing over the armatures 342 and contacts 3 to the relays 314.

: Relays 314 upon being energized are looked over their individual armatures 315 and also extend negative potential to the conductors 313 to 33I. The conductors 313 to 33I extend over the contacts 32 to the selector relays 25 to 23 and adjacent groups of selector relays which control the selector discs 415.

Each indicator unit I3 is provided with an in- Y dividual motor such as 3I, the circuit for which is controlled by an individual double wound relay 53. One winding of relay 53 is connectedover bars 3' and is energized in series with a selector 1 magnet 235 when the circuit therefor is completed by the closing of a contact of a selector bar. It will be noted, however, that the relays 235 are marginal sothat while the closure of a selector contact 3 does initiate the performance of its corresponding operating motor .3I the current flowing at that instant is not sufiicient to affect the relays 235 since brush 232 has not yet contacted. segment 233 so that the soleinegatlve connection is made through resistance 43k ,E'lg. 9. In this manner a relay 53 is first energizedwhen any item of the seven in its vertical column units is selected before the circuit for its associated! relay 33 is energized for conditioning the indicators for rotation as willbe described in detail hereinafter.

Having described the circuit arrangements of the receiving apparatus, the detail method of operation will now be described to be followed by a detailed description of the apparatus employed. With the apparatus in the position shown at the beginning of the transmission of the first code of the first cyc1e,-an energizingcircuit is completed for the relay I13from positive potential through the winding of relay I13, segment 233 5 and brushes 23I and 231 to the negative side of k 7 battery. With the relay I13 energized, armature I11 is in engagement with its front contact and negative current flows over the conductor I13, through the contact I and stop magnet I14,

conductor .,I13 to the armature I12, it being understood that the distributor shaft I32 is in the.

position shown at the beginning of the first impulse of the first cycle. If at this instant, a start impulse of positive polarity, as described above, is received over the signaling line I53 by the polar receiving relay "I, the armature I12 will engage its left hand contact and the'circuit for the stop magnet I14 will thereupon be completed energizing this magnet which in turn removes its armature from engagementwith a notched disc (not shown) and releases the distributor for rotation by a motor (not shown) in frictional engagement with the distributor shaft I32. Upon the first movement of the distributor shaft I32,"the disk I3I carried thereon rotates a sufiicient distance to open the contact I15 and the start magnet I14 is 'deenergized and is not operated thereafter in response to further impulses. Although magnet I14 is deenergized, the stop notchhas rotated past the armature of the magnet and accordingly the magnet has no effect at this time.

The brush I32 will now rotate to the first signaling segment I31 in .synchronism-with the rotation of the brush I5I at the transmitting station moving to the first impulsing segment I33.

At this instant an impulse will be impressed on the conductor I53, the polarity of which is determined by the first perforation in the. tape with which the feeler I33 of the first feeler lever I3I is in operative relation. This impulse will energize the polar receiving relay I1I operating its armature I12 to engage either its left or right hand side contact and current of positive or negative polarity depending upon whether or not the tape was perforated at the first position for transmitting a marking or spacing impulse, will fiow over the conductor I13 through the distributor ring I34, brush I32, segment I31 andover the conductor I35, ring 2!, brush 233, over the conductor 2I I, brush 2I3 and over conductor 25I to the first selector magnet 5 to negativ battery. I v

If the impulse, as stated above, is a marking impulse and armature I12 engages its left hand contact, the first selector magnet 5 will be energized. Ifit is a spacing impulse, the' magnet 5 will not be energized.

Similarly when the brush I32 wipes over the second segment I33, current is transmitted from the armature I12 depending upon the polarity of the second impulse received and over the brushes 231 and 2" and conductor 252 to the second selector magnet 5, the energization of the second selector magnet depending upon the character of the second impulse received in the code. In this manner, as the brushes 2 I3 to 223 are moving over the first segments of the segmented rings '22l to 225 five impulses are received, the distributor brush I32 as explained above, making a.

complete revolution during this period, In this manner, the combination of impulses is repeated over the armature. I12 to the first five selector magnets 5.

By this time the brush 23I has moved away from the first segment of the ring 233 and accordingly the relay I13 is deener gized. As explained above, (ie start impulse transmitted when the brush I5I is in engagement with the start segment I35 for the second code of a cycle of codes is a negative impulse from thearmature 7 I I32 when in engagement with its back contact .above closes its contact, an energizing circuit is completed for the relay I14 from the positive side of battery, back contact and armature I11, conductor I16, contactor I15, winding of start magnet I14, conductor I13 and armature I12 and its right hand contact to the negative side of battery. The distributor shaft I82 w'ill accordingly again be released for the second rotation by ,energization of start magnet I14.

It will be understood that the receiving distributor I83 rotates at a slightly faster speed than the transmitting distributor so that it returns to its normal stop position before the transmitting distributor and is in readiness for the start impulse when it is received. In this manner, the two distributors are maintained in synchronism during each cycle. I

Following the receipt of the second code combination of impulses, a third code is received, the

operation being exactly the same as that recited I in connection with the second code except that during this period the brushes 2I6 ,to 228 are wiping over the third set of segments on the segmented rings 22I to 225 and the impulses are repeated over the conductors 251 to the third or last five selector magnets 5, it being understood that here the start and stop impulses are now the same as those described for the second combination. Following the receipt of the third code combination of impulses or the third revolution of the distributor I83, all of the fifteen selector magnets 5 will have responded to individual impulses of the codes to in turn operate theircode bars 1.

At this time the brush 236 starts to wipe over the segment 243 .and the start magnet 284 is energized over a circuit including conductor 286" to the segment 243, brushes 236 and 231 and ring 244 to the negative battery. The energization ofcompletes a selectingcircuit by operating one of the bars 8 closing itsindividual contact for one of the magnets 286. depending upon which of these bars is operated. Assuming that bar 8 to the extreme left closes its contact, the circuit for the topm t electromagnet 285 is closed from positive battery through the electromagnet 288 over the extreme left hand contact controlled by 'the extreme left hand bar '8 over conductor 388, winding of relay 56,'-conducto r-388 and resistor 48I, Figure 9, to negative battery; The left hand winding of relay 56 is ,at this time energized closing the circuit for the motor 6| to start the indicator shafts in rotation, but the relay 285 being marginal is'not operated at this time due to the small current which will flow throughgesistance 48L The relay 285 has however, now been selected for later operation as will .bedescribed.

The fourth, fifth, sixthand seventh codes will now be successively received as the brushes 2l6 to 2l8 wipe over the fourth, fifth, sixth and seventh segments of the segmented rings 22I to 224. As described above, the codes for these particular channels comprise only four impulses in order to make the necessary selection of the nu-' merals which comprise the quotation to be made. As the brush I92 rotates over the first four segments I81 to I98, code combinations of received I impulses will be repeated over the conductors 28I to 264 while the brushes 2I6 to M9 are moving over the fourth segments of rings 22I to 224. The next code will be repeated over the conductors 265 while the brushes 2l6 to 2I9 are moving over 1 the fifth segments, the succeeding code over conductors 266 while the brushes 2I6 to US are moving over'the sixth segments and the last of these codes will be repeated over the conductors 261 while the brushes are moving over the seventh 1 segments. The circuits completed over these conductors will now selectively operate the relays 31I. At this time the relay 363 is also energized over a circuit from positive battery. through the relay 363, conductor 364, segment 242, brushes 2 235 and 231 and ring 244 to negative side of battery so that upon energization of any of relays i 31 I, locking circuits therefore are completed from positive battery through these relays 3" their front contacts and armatures 312, conductor 36I' 2 and armature 362 and its front contact to negative battery.

Following the reception of the seventh code, the brushes 2I6 to 228 will wipe over the last set of segments on the segmented rings 22I to 225 dur- 8 ing which the range selecting code is received as explained above. This code is repeated over one or more of conductors 21I to 215, energizing corresponding ones of the relays 356 to 368. Each of these relays thus energized in turn locks it- 3 sel'fover its own armatures 35I to 365, conductor 36I, armature 362 and its front contact.

The above constitutes a complete cycle of operation. The item selecting codes have been received and distributed to the item selectors which 4 have been conditioned for later operation. Similarly the quotation and range codes have been received and distributed to the proper selecting apparatus. No actual operation, however, of selected item to indicate the quotation is made during the cycle while the codes therefor are 'received.

As will appear in the following the actual operation in accordance with the codes received and recorded are now carried out while the codes for the succeeding selection are being received. Accordingly a full overlap is provided, the full line period being used for signaling, while at the same time, this same complete code interval is available for the actual operations.

The brushes 23I to 231 are at this time bac to the position shown and brush 23I is, wipin over segment 238 completing an energizing circuit for relay I18. Unless the start impulse for th first code of the received cycle is now again positive impulse, the start magnet will not energized.

' Assuming a start impulse of the correct po larity, magnet I I4 is energized and the distributo released for the first code of the second cycle Thereafter operations as described in the abov for the first cycle are repeated. 3

The selecting conditions set up during the pre ceeding cycle now become effective as follows.

Shortly after brush 23I leaves its segment 238 which'it may do only in response to a start p w of the proper polarity, brush 233 rides off of seg ment 246 opening the locking circuit which been holding'the previously operated relay 28 as described above and which, includes wire 28 and locking contacts 286. Looking relay 366 is also opened at this time since it too derives its negative polarity over line 293 and the same segment 240, thereby releasing the armatures of all of the secondary relays 336 to 314 at the same instant that the armatures of operated relays 285 are released.

After this has been done brushes232, 233 and 234 simultaneously encounter their respective segments 239, 240 and 241. In so doing brush 232 introduces direct negative polarity to line 298 thereby shunting out resistor 40l' so that the increased current upon this line which also includes line 399 will now cause to be operated the marginal relays 285 preparing the circuits 3l6 to 320 over which the range signals are sentto their respective magnets 306 to 3l0. Brush 233 encountering its segment 246 prepares the locking circuit for relay 285 and relay 366 again. As to relay 366 the circuit is complete and that relay is energized and its armature attracted but as to the relays 285 the completion of their circuit awaits the energization of any one of them after which the presently described circuit maintains it in energized condition.

When brush 234 is wiping over segment 2,

relay 343 is energized'over a circuit including its winding, conductor 344 to the segment ring 24], brushes 234 and 231 and ring 244 to negative side of battery. Upon energization, relay 343 closes all of thearmatures 342 over their front contacts and energizing circuits are completed for the relays 336 to 340 and relays 314 in accordance with the settings of relays'356 to 360 and the relays 311. The relays 336 to 340 and 314 are then looked in accordance with the settings as transferred from their corresponding relays 356 to 360 and 311 by'reason of the energlzation of locking relay 366.

As relay 2851s energized and closes its contacts 286 to 292, relay 285 is looked over the contact 286, conductor 293 to the segmented ring 240. As a resultpf the closing of contact 281 an energizing circuit is completed for the transfer control relay 33 from negative through the winding of relay 33 and over conductor 295 second contact 281 to the positive battery conductor 294. Energization of the relay 33 now completes the final energizing circuits selectively for-the selector magnets such as to 28 which are now variably operated in accordance with the energization of the fifteen relays 314 to determine the extent of rotation of the released indicators, the circuits therefor extending from negative battery, front contact and armature 365 of relay 366,

front contacts and armatures 315 of energized relays 314, over conductors 316 to 39l and contactcrs 32 to the magnets 25 to 26, etc- I Circuits are also extended from negative battery and armature 365 over conductors 325 to 329 in accordance with the relays 336 to 340 which are energized and through contacts-288 to 292 to magnets 306 to 3! in accordance with the range code received. The range magnet 306 to 3) which is energized releases'its indicators forrotation through an angle determined by the magnets 25 to 28 which have been energized.

It will be noted that relay 343 remains energized only long enough to permit transfer of setting of the first set of relays 356 to 31l to relays 336 to 340 and relays 314. The brush 234- thereafter moves ofi segment 2 opening the circuit for relay 343. It will also be noted that simultaneously brush 235 moves off the upper segment on ring 242, opening the circuit of locking relay 363. Relay 363 deenergizw opening the 'locking'circuits for relays 356 to 3" and these are reconditioned for the succeeding code received shortly thereafter. Relays 336 to 340 and relays 314 remain energized during this period and continue so in fact into the next cycle when brush 233 moves from the upper segment open ing the circuit of relay 366 and locking circuit of relay '285. Relay 366 upon deenergization opens the circuits of' relays 336 to 340 and 314' preparing these relays for the-transfer operation from relays 356 to 360 and 3" which have been just-energized in accordance with a newly received code.

As brushes 234 and235 ride off of their respective segments, brush 232 also leaves its segment 239 its objective being continued by the locking circuit which includes line 293 and segment 240. In other words the introduction of direct negative current so asto afford suflicient power to operate the marginal relays 285 once having been brought about by the engagement of brush 232 and segment239 over line 398 this engagementmay thereafter be broken since brush 233 and its segment 240 serve to maintain the locking circuit 293 which through contacts'286 hold the energized relays 285 in locked condition as well as supplying current to the other relay 366 which is connected, to the samecircuit.

In order to assure that the individual motors 6| shall continue to operate a suflicient length of time after the particular selector contact 9 has been opened which event occurs at the same time that a subsequent and new selection is made, the motor operating relay 56 is equipped with a conventional double winding one of which is energized at the closure of a particular contact 9 and the other of which is energized subsequently when relay 285 is operated. The latter energization is effected through a closure of contact 281 with positive current source over line 294 and includes in series line 295 resistor 295' and line 56'. It will be recalled that during the first cycle described above the selecting codes received were such that the left bar 8 closed its contact by operations of the motor when released by magnet 284. Magnet 284 was energized when brush 236 'wiped over segment 243. At this time brush 232 also wiped over the last portion of segment 239 which shunts the resistance 40 l But the motor as will be described operates through a clutch and does not complete its operation of closing the contact of bar 8 before brush 232 leaves segment 239. Accordingly when the contact of bar '8 was closed during the first cycle, relay 285 was not energized as described above.

During the succeedingcycle, however, when brush 232 wiped oversegment 239 shunting resistance 40l, relay 285' was energized and the previously conditioned operations were completed as described. During thisv second cycle also a new item selecting code was received so that when immediately after the code as magnet 284 was energized, the motor started into operation, the previous selection was restored and the contact of a new bar 8 was closed. Itsassociated selector relay 285 was not energized at this time for the net 285 is opened and this relay is deenergized.

Immediately after brush 232 engages segment 239 to shunt resistance 401 to energize the selecting relay associated with the bar operated by the second received code, brush 233 engages the lower segment on ring 240 to close the locking circuit for this selector relay and brush 234 wipes over segment 241 to energize relay 343 to transfer the settings of the relays 356 to 360 and relays 311.

Having described the circuits employed in carrying out my invention, I shall now describe the units, tens and hundredths each or higher if known manner.

, to drive it through a friction disk 412.

desired.

A number of such units, each representing a different stock are arranged in a vertical column. At the foot of each column, a common selecting mechanism is provided which operates in accordance with the quotation codes received to determine the angular rotation of the selected drums in the vertical column. As many columns may be provided as will be necessary for the number of stocks to be listed on the board.

The price setting units, see Figures to 21 inclusive, comprise a motor 61, Figure 20, which comprises a rotating armature shaft 461 suitably mounted in bearings (not shown) carrying on its end a worm gear 462 meshing with gear 463 which-is carried on and rotates a cross shaft 464. Cross shaft 464 carries an individual gear 465 for each of four vertical shafts 466 to 469. Each gear 465 meshes with a gear 411 mounted on the corresponding vertical shaft and adapted Friction disk 412 comprises plates 413 between which'the friction. material is carried and which is urged against the'gear by ahspring 414. a

Concentric with each of the vertical shafts 466 to 469 is a series of four loosely mounted spaced notched code disks 415 carried between guide plates 416 and 411 and separated by separators 411' carried on a shaft engaging thimble 411". Each of the disks 415 is adapted to occupy one or the other of two positions to which it is moved by means of individual bell cranks 418, Figure 15. The bell cranks 418 are pivotally mounted at 419 and are pivotally-secured at their opposite ends 480 to ,the slides 481 which are pivotally connected at 482 to the armatures 493 to magnets 25. Connected to a projection 484 on each slide 481 is one end of a spring 485', the other end of which is secured to the frame in any well These springs 485' are opposed to the action of the magnets 25 and tend to restore the slides 481 and their associated disks 415.

When the magnet 25 energizes, the armature 483 is moved upwardly attracted by the magnet and in turn moves the slide bar 481 upwardly rocking the bell crank 418 about its pivot 419 in a clockwise direction which in turn rocks the disks 415 in a counterclockwise direction. As will be understood a magnet 25 and slide bar 481 is provided for each of .the disks 415 and a corresponding system of bell cranks and slides is provided for each of the other shafts 505.

Arranged circumferentially around the notched disks is a series of spring pressed rods 486 carscrew 502 engaged in hub 503 of gear 501.

' and guide plate 481 and held in position by the action of springs 488 the'guide plate 481 being maintained in spaced relation to plate 411 by a tubular member 481' and rods 481". The rods 486 each carry a setof rollers 489 arranged op-- posite notches in the disks. The notches in the disks are so arranged that for every combination of setting of the disks, a notch in each of the disks is in alignment with the notches in all of the other disks and the particular rod 486 which is opposite these aligned notches will drop in the aligned notches in the disk. These notches are also arranged so that when the disks are reoperated in accordance to the newcode combination of impulses, the particular rod which Carried on the drive shaft 466 is a stop arm 1 491, Figure 18 which rotates with the main shaft. As the arm 491 rotates, it moves past the rods 486 on the outer surface of the disks which are just outside the path of the arm 491 which accordingly has unobstructed path of rotation. When, however, an alignment of notches occurs and one of the rods 486 drops into the aligned notches, its end shown in Figure 18 moves into the path of the arm 491 and brings the shaft 466 to a stop at this position. In this manner, the angular rotation of the shaft is selectively determined in accordance with the operation of disk members 415 which in turn are selectively operated by the associated selector magnets to 28 which, as described above, are in turn energized selectively in accordance with the received.

code combinations of impulses for indicating the amount of the quotation. Although a preferred form of selector mechanism is here shown, any other well known type may if preferred be used.

The shaft466 carries on its end a gear 501 secured to rotate therewith by means of a set The gear 501 meshes with gear 504, secured on' the end of the shaft 505 by a screw 506 engaged in hub 501 of gear 504. The shaft 505 extends the entire height of the vertical section of the board and is provided with a gear 511' for each stock.

gear 513 which is individual to the stock unit including. the indicators 514 to 518 all carried on and rotatable with the shaft 519 rotatable in bearings 520 and 521 on the frame 522. It will be noted thatopposite each of the indicators there is provided a slot 523 through which the numbers on the indicators are visible, each indicator being provided with a complete set of the ten digits from 1 to 0. It will be noted that five such indicators are carried on the shaft 519 one for each of the five ranges; namely, last, opening, closing, high and low. A similar set of indicators controlled by a similar selecting arrangement is provided for each digit in a quotation and accordingly there are four such sets as shown in Figure 20. Although a preferred form of indidrag of a spring. As shown in Figure 19, each of 

